$460.57 Million in Sales Expected for Check Point Software Technologies (CHKP) This Quarter

Wall Street analysts predict that Check Point Software Technologies (NASDAQ:CHKP) will report $460.57 million in sales for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have made estimates for Check Point Software Technologies’ earnings, with estimates ranging from $455.00 million to $464.90 million. Check Point Software Technologies posted sales of $458.57 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.4%. The company is expected to announce its next earnings report on Thursday, July 19th.

On average, analysts expect that Check Point Software Technologies will report full-year sales of $1.89 billion for the current year, with estimates ranging from $1.86 billion to $1.91 billion. For the next financial year, analysts forecast that the company will post sales of $1.97 billion per share, with estimates ranging from $1.90 billion to $2.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Check Point Software Technologies.

Get Check Point Software Technologies alerts:

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, April 25th. The technology company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.02. The company had revenue of $452.30 million during the quarter, compared to analysts’ expectations of $452.13 million. Check Point Software Technologies had a return on equity of 22.83% and a net margin of 43.15%. Check Point Software Technologies’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $1.20 earnings per share.

CHKP has been the subject of a number of recent analyst reports. Jefferies Group cut their price objective on Check Point Software Technologies to $117.00 and set a “buy” rating for the company in a research report on Thursday, April 26th. Barclays cut their price objective on Check Point Software Technologies from $106.00 to $104.00 and set an “equal weight” rating for the company in a research report on Thursday, April 26th. Morgan Stanley cut their price objective on Check Point Software Technologies from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, April 26th. Royal Bank of Canada restated a “hold” rating and issued a $110.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, April 25th. Finally, Deutsche Bank cut their price objective on Check Point Software Technologies from $100.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, April 25th. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and four have assigned a buy rating to the stock. Check Point Software Technologies has an average rating of “Hold” and an average price target of $109.99.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Investments LLC lifted its stake in shares of Check Point Software Technologies by 11.1% in the 4th quarter. Atria Investments LLC now owns 8,786 shares of the technology company’s stock valued at $910,000 after purchasing an additional 878 shares during the last quarter. Cobiz Wealth LLC lifted its stake in shares of Check Point Software Technologies by 1.4% in the 4th quarter. Cobiz Wealth LLC now owns 51,018 shares of the technology company’s stock valued at $5,286,000 after purchasing an additional 681 shares during the last quarter. Lenox Wealth Management Inc. lifted its stake in shares of Check Point Software Technologies by 29.1% in the 4th quarter. Lenox Wealth Management Inc. now owns 10,814 shares of the technology company’s stock valued at $1,121,000 after purchasing an additional 2,436 shares during the last quarter. Boston Advisors LLC lifted its stake in shares of Check Point Software Technologies by 1.1% in the 4th quarter. Boston Advisors LLC now owns 86,305 shares of the technology company’s stock valued at $8,943,000 after purchasing an additional 930 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $553,000. 66.25% of the stock is currently owned by institutional investors.

Shares of Check Point Software Technologies traded down $0.50, reaching $95.84, on Friday, MarketBeat Ratings reports. The company’s stock had a trading volume of 13,833 shares, compared to its average volume of 1,649,704. The stock has a market capitalization of $15.85 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.96 and a beta of 0.66. Check Point Software Technologies has a 52-week low of $93.76 and a 52-week high of $119.20.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. provides hardware and software products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides security gateways to protect the networks and prevent the threats of enterprises, data centers, and small and large branch offices; security gateway appliances, including platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and security management software, which offers security management through a single console that streamlines security operations and provides visibility into policy administration and threat analysis.